Rupee Rout Dims Hopes of a Strong Recovery in Indian Stocks

Rupee Rout Dims Hopes of a Strong Recovery in Indian Stocks

(Bloomberg) — The Indian rupee’s slide to repeated record lows is finally starting to pinch the equity market, with analysts warning that prolonged weakness could undermine confidence in the nascent recovery of the $5.2 trillion stock market.

Rupee Records Another Low, Nearing 91 over FPI Outflow, US Trade Deal Uncertainty

Get latest articles and stories on Business at LatestLY. About a fortnight after breaching 90 mark, the Indian Rupee is inching towards 91, hitting a fresh all-time low. At the time of filing this report, the Rupee was trading at 90.904 per US dollar, with an intraday high of 90.957, just shy of 91. Business News | Rupee Records Another Low, Nearing 91 over FPI Outflow, US Trade Deal Uncertainty.

Rupee Hits All-Time Low of 90.58 on FII Outflows, Trade Deal - discountwalas

The Rupee is taking a hit again, setting a new all-time low against the US Dollar in early trade on Monday. That happened, and the currency market is definitely showing signs of nervousness. The Rupee depreciated by 9 paise to hit an all-time intraday low of 90.58 against the Dollar. This follows the previous record on Friday, when it closed at 90.49. This continuous slide is putting the currency in a difficult spot. Also Read | The S24 Ultra St…

Rupee records another low, nearing 91 over FPI outflow, US trade deal uncertainty

New Delhi [India]: About a fortnight after breaching the 90 mark, the Indian Rupee is inching towards 91, hitting a fresh all-time low. At the time of filing this report, the Rupee was trading at 90.904 per US dollar, with an intraday high of 90.957, just shy of 91. So far this year, the Indian currency has depreciated by over 5 per cent on a cumulative basis. Anindya Banerjee, Head Currency and Commodity, Kotak Securities, said, “USDINR is unde…